Are electric cars bad for the oil industry?

[trauchot]

Will come time when everyone will switch to electric cars for not polluting nature, I think many governments for this purpose will even put free chargers for electric cars, as they already started do it in many countries. And all that gasoline and gas which was extracted specifically for refueling cars will simply be used for other needs.

[Micerker]

Title.

So. Electric cars are gaining in popularity, therefore the popularity of gasoline will be going down. Won't the price go down, leaving the oil industry in trouble?

No, petroleum industry isn't in trouble because electric cars have a lot of drawbacks, especially the speed  travel speed is low and the volume can become low.

[GalahadSeika]

In the long term process I think that since Electric cars are gaining popularity oil industry will be alarmed and maybe it will dramatically decrease in value due to the fact that oil is not a renewable resource so we all expext that oil will run out in many years from now. So right now in our current state electric cars does not post a great threat YET to the oil industry but in many years it will be mark my words.

[aroweyen]

Yes i think.

We have to acknowledge that oil demand will peak, and it could already be in the next decade. It could happen. There are people who believe it will grow forever,
but I don’t 100% agree to that.

[Lacocanostra88]

Yes of course.
just imagine what the world has become full on electric cars. Thousands of people will lose their jobs, miles of infrastructure will stand idle.

[Duogembrot]

Title.

So. Electric cars are gaining in popularity, therefore the popularity of gasoline will be going down. Won't the price go down, leaving the oil industry in trouble?

if the electric car is in production then the oil company will go bankrupt and suffer a lot of losses because in the world already does not need oil in need of electricity only because of it oil entrepreneurs threaten the electric car.

[Genemind]

Title.

So. Electric cars are gaining in popularity, therefore the popularity of gasoline will be going down. Won't the price go down, leaving the oil industry in trouble?

I really like the idea of electric cars, not because of it's capability, but it's effects in the oil industry. The oil industry has been a problem through out the world. Everytime it increases it affects a lot of factors, such as fair, food, supplies, etc. They always say that the price of something increases because the oil needed for it's transportation increased firstly.

[misterj]

Any electric operated alternate for oil working machines are all considered a threat to all oil industry. This would mean that they do not have thr power to control the price of the oil since consumers have other options which is better if improved more. Their problem would be that oil industry will not be monopolized anymore and since their resources is limited while electrical is limited. Time would be their timer for their death in business since solar power is being studied to harvest free energy rather than over payed limited oil.

[btcjocan]

Title.

So. Electric cars are gaining in popularity, therefore the popularity of gasoline will be going down. Won't the price go down, leaving the oil industry in trouble?

I think there is really a possibility that electrical cars can be a threat to oil industry. Because nowadays  there are a lot of people buying electric cars because it is cheaper and environmental friendly type of cars because it will not pollute the air. Only battery is needed so it will run. But I think gasoline or diesel engined cars are still okay because it could travel far places unlike electrical cars there's limit of hours that you can drive depending non the battery status of your car.

[K0korap]

Needs simple flow from one resources to another based on what is being utilized. if there are lots of oil, i think there will be no need to innovate into electrical cars. It may lessen the demand for oil but I'm sure it will be transferred to another resource.

[Shishir99]

Yes ovbiously it will hamper the oil industry.
Everything depends on the oils price.
So the influence of oil will be decreased if the number of electric car increases.
I have heard a story that many time ago someone has invented a car that could be run by water but then he had died by the government people but don't it is true or not.

[lapesca]

Yes electric cars really affect the oil industry. Hoping that they low down their oil price for them to survive.

I don't think that they will decrease the oil price not now and not in the nearer future. The amount of electric cars is not that huge by now, and if we imagine that everybody has an electric car, that wouldn't even be good for the globe (think about the huge amount of power what would be necessary)

[salihno71]

Don't worry - oil industry will not give up without a fight. Their lobbies are the reason behind the several wars USA was fighting in the past 30 years, they will not just give up easily.

[50ouncebrew]

DUH

WOW

I can't believe this question even needs to be asked. I mean seriously, how can you even think electric cars in any way would not be bad for the oil industry? The main use for oil worldwide is in automobiles and obviously if they are no longer needed to have combustion engines and run off of batteries instead then the oil industry isn't going to like that at all...

[darewaller]

Will come time when everyone will switch to electric cars for not polluting nature, I think many governments for this purpose will even put free chargers for electric cars, as they already started do it in many countries. And all that gasoline and gas which was extracted specifically for refueling cars will simply be used for other needs.

I don’t think so, that there are electric cars doesn’t mean that people are quitting the use of oil powered cars. What you seek in motor industry might not be what others seek. And a car cannot have everything all packed into it at a time. Some cars might have the ability to fly, but won’t be powered by electricity, and those powered by electricity won’t have the ability to fly– just an example to show you that you won’t see everything you expect in a single car.

These people knows what they are doing, they won’t do anything to disfavor the oil industries. By the way, cars are not the only reasons we need oil, there are other things we can do with oil.

[n0ne]

In one way electric cars were eco-friendly compared to the oil that create pollution. In other way when we think about the battery production for the usage on cars, the chemical reaction that involved in the same pollutes the environment in a much worse manner. So one nothing seems good until something generated without pollution.

[Aryanto28]

oil in the country more difficult to get then the price of fuel oil soared. I think the presence of electric-powered vehicles is the right solution to limit the petroleum that is getting less and less because of its many vehicles that use fuel oil. if the oil industry is worried about the presence of electric cars I think it does not really affect it because there are still many vehicles that are fueled by oil even though electric cars are launched

[stepwilli]

Will come time when everyone will switch to electric cars for not polluting nature, I think many governments for this purpose will even put free chargers for electric cars, as they already started do it in many countries. And all that gasoline and gas which was extracted specifically for refueling cars will simply be used for other needs.

Electric cars will be so good for public especially those who cannot afford really expensive petrol to ride their own cars. I believe that with the invention of electric cars, there will be massive increase in the use of cars and the customers will grow with great speed for electric cars. Now people will not be tortured by high rates of petrol when there is petrol crisis rather they will simply switch to electric cars.

[Happy Miner]

Oil is widely used in industry, so its popularity will not be greatly reduced. The price will also not fall to zero, because oil reserves are limited. Electric cars are popular, but before the disappearance of gasoline cars are still very far away.

[supermam]

Of course electric cars will affect the oil industry because this cars will no longer used oils to operate so the consumption of oils will be lessen and that will affect oil industry